As the summer sun begins to set, it’s time to shed light on what August had in store for the Fraser Valley real estate market. The past month has been a roller coaster ride for both buyers and sellers in this picturesque region of British Columbia. Join us as we delve into the latest statistics, trends, and insights, offering a comprehensive overview of the ever-evolving landscape in one of Canada’s most sought-after housing markets. Whether you’re a homeowner, investor, or simply curious about the state of real estate, our analysis of August’s data will provide you with valuable insights to navigate this dynamic market. So, fasten your seat belts as we embark on a journey through the Fraser Valley’s real estate terrain in the month of August.
Surrey
- Surrey Detached: The market in Surrey for detached homes is currently a buyer’s market, with an 11% sales ratio (1.1 in 10 homes selling). Homes are selling, on average, 1% below the list price. The $900,000 to $1.25 million price range is the most active, with an average 25% sales ratio, indicating it’s a seller’s market within this price range. For buyers looking for the best opportunities, homes between $2.75 million to $3 million in Royal Heights and those with a minimum of 7 bedrooms are recommended. Sellers are more likely to find success in Fraser Heights and with 3 to 4 bedroom properties.
- Surrey Attached: The market for attached homes in Surrey is currently a seller’s market, with a 29% sales ratio (2.9 in 10 homes selling). Homes in this category are, on average, selling for 1% above the list price. The $300,000 to $400,000 price range is the most active, boasting an average 50% sales ratio, which indicates a strong seller’s market within this price range. For buyers seeking the best opportunities, consider homes between $1 million to $1.25 million in Cedar Hills and West Newton, particularly 3 bedroom properties. Sellers are more likely to find success in Bear Creek Green Timbers and Panorama Ridge, especially with 2 bedroom properties.
White Rock
- Surrey White Rock Detached: This market is currently in a balanced state with a 15% sales ratio (1.5 in 10 homes selling). On average, homes in this category are selling for 1% below the list price. The most active price range is between $1.25 million to $1.5 million, where there’s an average 29% sales ratio, indicating it’s a seller’s market within this price range. Buyers looking for good opportunities should focus on homes between $3 million to $3.5 million in White Rock, particularly those with a minimum of 7 bedrooms. Sellers are more likely to find success in Morgan Creek and Sunnyside Park, especially with 3 to 4 bedroom properties.
- Surrey White Rock Attached: This market is currently a strong seller’s market with a 34% sales ratio (3.4 in 10 homes selling). On average, homes in this category are selling for 100% of the list price. The most active price range is between $500,000 to $600,000, with an average 67% sales ratio, indicating it’s a robust seller’s market within this price range. Buyers seeking favorable opportunities should consider homes between $1.75 million to $2 million in Pacific Douglas and White Rock, particularly focusing on properties with up to 1 bedroom. Sellers are likely to find success in Grandview, King George Corridor, and Morgan Creek, especially with 3 bedroom properties.
North Delta
- North Delta Detached: The market for detached homes in North Delta is currently in a balanced state with a 14% sales ratio (1.4 in 10 homes selling). On average, homes in this category are selling for 1% above the list price. The most active price range falls between $2 million to $2.25 million, with an average 20% sales ratio, indicating a balanced market within this price range. For buyers seeking favorable opportunities, consider homes priced between $2.25 million to $2.5 million in Annieville, particularly those with 5 to 6 bedrooms. Sellers are more likely to find success in Scottsdale, especially with properties having a minimum of 7 bedrooms.
- North Delta Attached: The market for attached homes in North Delta is currently a strong seller’s market with a 28% sales ratio (2.8 in 10 homes selling). On average, homes in this category are selling for 100% of the list price. The most active price range is between $800,000 to $900,000, with an average 38% sales ratio, indicating it’s a robust seller’s market within this price range. For buyers seeking favorable opportunities, look for homes priced between $500,000 to $600,000 in Sunshine Hills Woods, particularly those with 3 bedrooms. Sellers are likely to find success in Annieville, especially with 3 bedroom properties.
Cloverdale
- Cloverdale Detached: The market for detached homes in Cloverdale is currently in a balanced state with a 20% sales ratio (2 in 10 homes selling). On average, homes in this category are selling for 1% below the list price. The most active price range is between $1 million to $1.25 million, with an average sales ratio exceeding 100%, indicating it’s a strong seller’s market within this price range. Buyers seeking favorable opportunities should explore homes priced between $1.75 million to $2 million in Cloverdale, especially those with a minimum of 7 bedrooms. Sellers are more likely to find success in Clayton, particularly with 3 to 4 bedroom properties.
- Cloverdale Attached: The market for attached homes in Cloverdale is currently a strong seller’s market with a 44% sales ratio (4.4 in 10 homes selling). On average, homes in this category are selling for 2% below the list price. The most active price range falls between $800,000 to $900,000, with an average 61% sales ratio, indicating a robust seller’s market within this price range. Buyers seeking favorable opportunities should look for homes priced between $500,000 to $600,000 or $700,000 to $800,000 in Cloverdale, especially those with up to 1 bedroom. Sellers are likely to find success in Clayton, particularly with properties having a minimum of 4 bedrooms.
Langley
- Langley Detached: The market for detached homes in Langley is currently a strong seller’s market with a 24% sales ratio (2.4 in 10 homes selling). On average, homes in this category are selling for 2% below the list price. The most active price range is between $1 million to $1.25 million, with an average 74% sales ratio, indicating it’s a robust seller’s market within this price range. For buyers seeking favorable opportunities, consider homes priced between $2.25 million to $2.5 million in Campbell Valley, particularly those with up to 2 bedrooms. Sellers are likely to find success in Murrayville and Walnut Grove, especially with 3 to 4 bedroom properties.
- Langley Attached: The market for attached homes in Langley is currently a strong seller’s market with a 45% sales ratio (4.5 in 10 homes selling). On average, homes in this category are selling for 1% below the list price. The most active price range is between $700,000 to $800,000, with an average 57% sales ratio, indicating it’s a robust seller’s market within this price range. For buyers seeking favorable opportunities, consider homes priced between $1 million to $1.25 million in Langley City and Willoughby Heights, especially those with a minimum of 4 bedrooms. Sellers are likely to find success in Aldergrove, Murrayville, and Walnut Grove, particularly with 3 bedroom properties.
Abbotsford
- Abbotsford Detached: The market for detached homes in Abbotsford is currently in a balanced state with a 15% sales ratio (1.5 in 10 homes selling). On average, homes in this category are selling for 4% below the list price. The most active price range falls between $900,000 to $1 million, with an average 38% sales ratio, indicating it’s a seller’s market within this price range. For buyers seeking favorable opportunities, explore homes priced between $1.5 million to $1.75 million in Abbotsford West and Abbotsford Central, especially those with up to 2 bedrooms. Sellers are more likely to find success in Abbotsford East, Aberdeen, and Poplar, particularly with 3 to 4 bedroom properties.
- Abbotsford Attached: The market for attached homes in Abbotsford is currently a strong seller’s market with a 35% sales ratio (3.5 in 10 homes selling). On average, homes in this category are selling for 100% of the list price. The most active price range falls between $400,000 to $500,000, with an average 47% sales ratio, indicating it’s a robust seller’s market within this price range. For buyers seeking favorable opportunities, consider homes priced between $500,000 to $600,000 in Poplar, especially those with 3 bedrooms. Sellers are likely to find success in Abbotsford East, West, and Central, particularly with 2 bedroom properties.
Mission
- Mission Detached: The market for detached homes in Mission is currently in a balanced state with a 16% sales ratio (1.6 in 10 homes selling). On average, homes in this category are selling for 2% below the list price. The most active price range falls between $800,000 to $900,000, with an average 47% sales ratio, indicating it’s a seller’s market within this price range. For buyers seeking favorable opportunities, consider homes priced between $1.75 million to $2 million in Mission, particularly those with a minimum of 7 bedrooms. Sellers are more likely to find success in Hatzic and Lake Errock, especially with properties having up to 2 bedrooms.
- Mission Attached: The market for attached homes in Mission is currently in a balanced state with a 16% sales ratio (1.6 in 10 homes selling). On average, homes in this category are selling for 5% below the list price. The most active price range falls between $700,000 to $800,000, with an average 33% sales ratio, indicating it’s a balanced market within this price range. For buyers seeking favorable opportunities, focus on homes priced between $500,000 to $600,000, particularly those with up to 1 bedroom. Sellers are likely to find success in Mission, especially with properties having a minimum of 4 bedrooms.
Feel free to contact Jared Gibbons, your local realtor, should you have any questions!